Workers at Mahindra & Mahindra's largest plant, at Nashik, have gone on an indefinite 'tools down' strike, denting the company's revenue by Rs 25 crore a day.
Mahindra & Mahindra on Thursday said it will launch a micro-hybrid version of its latest multipurpose vehicle Xylo before the year-end, while it gears up to roll out two electric cars from the Reva stable by the end of 2011.
The U301 is a compact SUV and in dimensions it is four metres.
A look into how General Motors has tried to build the Chevrolet brand in India.
While it is difficult to attribute any one single reason to this, low cost, less depreciation, easier loans, and ready availability of good models are some of the reasons behind this boom.
Tyre maker Dunlop's owner Pawan Kumar Ruia has submitted a bid to acquire South Korea's bankrupt SsangYong Motor, while Mahindra & Mahindra is also understood to have made a similar move.
American car maker General Motors is likely to pull out of its technological partnership with REVA Electric Car Company, after domestic auto major Mahindra & Mahindra Ltd bought 55.2 per cent equity in the Bangalore-based company to stake its place in the fledgling electric vehicle market.
Kinetic Motor's assets bought for Rs 110 crore.
Newly confident, they're climbing the Asia BusinessWeek 50 with global ambitions.
Net sales increased 29 percent to Rs 10,643 cr.
The auditor of government accounts, CAG, has faulted the Income Tax department for levying Rs 708.6 crore less in taxes from companies including State Bank of India, Tata Sons, Mahindra & Mahindra and Bharti.
The monthly sales of its bread-and-butter Ambassador slipped to just around 800 in the April-February period.
The move comes after Renault's troubled five-year partnership with Mahindra & Mahindra failed to provide the French company with a platform to become a serious player in the country.
Auto component companies -- especially the mid-size and small ones -- are facing an uphill task to stay afloat as banks have become tight-fisted in giving credit and vehicle makers are cutting orders to combat the slowdown in sales.
The company's management and the union had entered into a long-term settlement in 2009 and the next wage revision for the workmen is due in February 2013.
Renault and M&M had planned to bring the seven-seater MPV through their JV under which the French company's mid-sized sedan 'Logan' is manufactured and sold in India. The MPV was displayed at the Auto Expo held earlier this year.
Manufacturers that mainly sell diesel cars like Mahindra & Mahindra, Tata Motors, Toyota, Mercedes, BMW and Volkswagen anticipate a significant fall in sales if the government accepts the Parikh committee's recommendation of a flat tax of Rs 80,000 on diesel cars, because of a widening cost differential with petrol variants.
India's biggest utility vehicle player Mahindra & Mahindra will spend close to Rs 300 crore ($60 million) towards brand-building and promotion as it prepares to launch its vehicles in the largest automotive market in the world - the United States.
After small cars hogged the limelight, it was the turn of celebrities, including Bollywood stars Shah Rukh Khan, Ajay Devgan and cricketer Sourav Ganguly, to add glitz to the ongoing 10th Auto Expo.
If you want to be serious in India, you must not cross $3,000 in product cost.
The revenue from automotive sales jumped 58 per cent in the quarter, driven by surging demand for SUVs.
People close to Indian carmakers Tata Motors and Mahindra & Mahindra, and the buy-out group One Equity Partners, said on Tuesday that they expected Ford to respond imminently to their revised offers made last week.
Mahindra & Mahindra, which has been aggressively trying to make inroads in the 7.3 million units per year motorcycle market with the help of Bollywood actor Aamir Khan, has failed to create much excitement, with sales slipping 36 per cent last month from the previous one.
Investors became richer by over Rs 2.27 lakh crore on Monday as equities rebounded, with the BSE Sensex rallying over 1 per cent amid continuous foreign fund inflows and upbeat global markets. The 30-share BSE Sensex jumped 709.96 points or 1.16 per cent to settle at 61,764.25. During the day, it zoomed 799.9 points or 1.31 per cent to 61,854.19. Following the rally, the market capitalisation of BSE-listed firms jumped by Rs 2,27,794.46 crore to Rs 2,76,06,443.06 crore.
By June 2009, the $6 billion Mahindra & Mahindra group will open its new $116 million automobile design and development facility called the Mahindra Research Valley spread over 150 acres in Mahindra World City in Chennai. Primarily, this R&D facility will cater to M&M's design needs, and later may consider doing similar high-end work for other OEMs.
M&M said it is also in talks with Renault to bring in a new product in the JV, but nothing has been finalised
Benchmark BSE Sensex rose by over 379 points on Tuesday as gains in oil & gas, banking and auto shares helped the barometer continue winning run for the third straight session. The 30-share BSE benchmark index advanced 379.43 points or 0.64 per cent to settle at 59,842.21. During the day, it jumped 460.25 points or 0.77 per cent to 59,923.03. The broader NSE Nifty climbed 127.10 points or 0.72 per cent to 17,825.25 as 42 of its constituents advanced.
Excise duty cut of Rs 6,000 on big cars to be passed to customers; LCDs cheaper by Rs 3,500.
The company which is facing a capacity saturation for its tractors -- a segment where its the market leader with 41 per cent share -- is looking to have an additional capacity in place for future demand.
DLF is paying $200m for a controlling stake in Amanresorts. The deal comes at a time when Indian automotive companies Tata Motors and Mahindra & Mahindra are bidding for Ford's luxury Jaguar and Land Rover marques.
GM declined to put a timeframe on when the electric small car would hit the Indian market.
It is estimated that the deal could be around USD100 million.
Mahindra & Mahindra's ambitious foray in the United States, a first by an Indian automobile company, is to take place by the year-end, with the launch of a couple of compact diesel-driven, pick-up truck models.
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